Title
Discuss and consider action to approve a resolution with the caption reading: "Resolution Expressing Official Intent to Reimburse Certain Expenditures" (from General Obligation issuance)
Summary
This resolution will allow the City of Pflugerville to expend funds for the projects that were approved in the November 2020 General Obligation Bond election. The City reasonably expects to incur debt, as one or more separate series of obligations, with an aggregate maximum principal amount not to exceed: $32,870,000 for the purpose of paying the costs of the Proposition A Projects; $9,740,000 for the purpose of paying the costs of the Proposition B Projects; and $13,670,000 for the purpose of paying the costs of the Proposition C Projects and $10,000,000 for the purpose of paying the costs of the additional projects.
The resolution was prepared by Mr. Richard Donoghue, bond counsel. Mr. Donoghue will be available at the City Council meeting to address any questions about this resolution.
Prior City Council Action
On November 3, 2020, the 2020 General Obligation Bond Election was passed.
Deadline for City Council Action
Action is requested on January 12, 2021.
Fiscal Impact
Funding Expected: Revenue __ Expenditure __ N/A _X_
Budgeted Item: Yes __ No __ N/A _X_
Amount: __n/a__
1295 Form Required? Yes __ No _X_
Legal Review Required: N/A __ Required_X_ Date Completed:_12/11/20_
Supporting documents attached:
Reimbursement Resolution
Proposed 2020 Issuance Project List
Recommended Action
Approve the resolution expressing official intent to reimburse certain expenditures.